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oil products

Oil track for big weekly drop as supply concerns mount
Markets

Oil track for big weekly drop as supply concerns mount

  • Brent crude was down 82 cents, or 1.1%, at $72.65 a barrel, heading for a 3.8% fall this week.
  • Saudi Arabia and the UAE reached a compromise this week, paving the way for OPEC+ producers to finalise a deal to increase production.
Published 16 Jul, 2021 09:05pm
SOCAR, Rosneft tie-up on fuel supplies to Ukraine, other countries
Business & Finance

SOCAR, Rosneft tie-up on fuel supplies to Ukraine, other countries

  • The deal is likely to pave way for the resumption of Rosneft's exports of fuel to Ukraine, which has faced with the prospects of diesel shortages.
  • The operations were halted after a ruling by Kiev's Supreme Anti-Corruption Court led to the seizure of diesel, owned by the Swiss-based trader, that was in the pipeline from Russia.
Published 17 May, 2021 07:43pm
Ukraine turns to sea-borne diesel imports as tensions rise with Russia
Markets

Ukraine turns to sea-borne diesel imports as tensions rise with Russia

  • Tensions between Russia and Ukraine have flared in recent weeks after years of strain began in 2014 when street protests in Kyiv resulted in the flight of the pro-Moscow president and annexation of Crimea by Russian forces.
  • The data also showed that the Serena M tanker shipped 30,000 tonnes of diesel to the port of Yuzhny from Turkey in the second half of March.
Published 05 Apr, 2021 07:43pm
Belarus to ship 280,000 tonnes of oil products via Russian ports in April
Markets

Belarus to ship 280,000 tonnes of oil products via Russian ports in April

  • Belarus has exported 220,000 tonnes of oil products to Russia since shipments began in March, Russian Prime Minister Mikhail Mishustin said separately on Monday.
  • The shipments were scheduled to start from March, totalling 2 million tonnes this year, 3.2 million tonnes next year and 3.1 million tonnes in 2023.
Published 05 Apr, 2021 05:41pm
OPEC+ compliance with oil cuts rises to 113pc in February
Markets

OPEC+ compliance with oil cuts rises to 113pc in February

  • Compliance from members of the Organization of the Petroleum Exporting Countries reached 124%, a figure which includes the additional voluntary cut from Saudi Arabia, said one of the sources.
  • Compliance from non-OPEC members in the alliance reached 94%, the source added.
Published 22 Mar, 2021 10:07pm
China busts $770 million refined oil smuggling ring in massive swoop
World

China busts $770 million refined oil smuggling ring in massive swoop

  • The operation, which saw customs officers from the port city of Ningbo join forces with local law enforcement and maritime police, spanned eight Chinese regions, including the coastal provinces of Zhejiang, Jiangsu, Shandong and Fujian.
  • Customs authorities described the swoop as "one of the most extensive operations" to combat refined oil smuggling along China's southeast coast in recent years, in terms of area.
Updated 16 Mar, 2021 10:02pm
Belarus to export up to 300,000 tonne of oil products via Estonia, Latvia
Markets

Belarus to export up to 300,000 tonne of oil products via Estonia, Latvia

  • The deal calls for up to 10 million tonnes of oil products shipments, split over three years, from March, and is part of a show of support for Minsk from Moscow following last year's presidential election.
  • Latvian ports of Riga and Ventspils are projected to get up to 111,000 tonnes of gasoline produced at the Mozyr refinery, an increase from 74,000 tonnes set for February.
Published 26 Feb, 2021 08:52pm
Belarus switches oil products to Russian from EU ports
Business & Finance

Belarus switches oil products to Russian from EU ports

  • The three Baltic nations imposed sanctions on Lukashenko and his allies following the elections and he promised to re-route oil products shipments to Russian ports in retaliation.
  • Shipments, set to start from March, would rise to 3.2 million tonnes next year and stay at 3.1 million tonnes in 2023.
Published 19 Feb, 2021 07:37pm